On December 1, 2012, Mindy's Daycare Receives $2,700 in Advance

question 202

Multiple Choice

On December 1, 2012, Mindy's Daycare receives $2,700 in advance for an agreement to care for Susan's children for the months of December, January, and February. Mindy's Daycare will make an adjusting entry on December 31, 2012 to:

• A) credit Revenue for .$2,700.
• B) debit Unearned Revenue for $900.
• C) credit Revenue for $1,800.
• D) credit Prepaid Revenue for $1,350.

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Definitions:

Reagents

Additives or chemical entities added to a system aimed at causing a chemical reaction or to examine the possibility of a reaction occurring.

Synthesis

The process of combining simpler substances chemically to form a new, more complex substance.

Sulfonium Salts

Ionic compounds that contain a positively charged sulfur atom directly bonded to three organic groups.

SAM

S-Adenosylmethionine, a compound involved in methyl group transfers in biological processes.